Two questions for you:
- In this hot market, how often do you recommend home staging?
- Do you and your sellers have the same definition of staging?
The “wall-color-and-fluffy-pillows” part is only the final step. True home staging is doing anything and everything that needs to be done to the property so that it…
- Shines in MLS photos
- Appeals to buyers, and
- Holds its list price during the inspection process.
Effective home staging ensures list price isn’t eroded in the home inspection process. Staging that ferrets out and addresses anything buyers can use against a list price during negotiations is REAL staging.
Great staging creates a property that buyers want at first sight and for which they’ll pay handsomely. Staged homes, on average, sell 50 percent faster and for 6 percent more than unstaged homes (NAR annual survey on home staging). Equally important, you want listing clients to get as much money as possible for their properties without over-improving.
Research shows the optimal amount of investment in home staging depends on these factors:
- Price point of the home
- How well the house has been maintained
- How up to date the interior is
- The extent of a house’s flaws vs. highlights
Here are the factors that call for bringing in an accredited home stager:
- What do the comps look like? If your new listing won’t measure up to what’s already out there, then those other properties’ agents will use your “less-than” house as a comp to make theirs outshine yours.
- Does your new listing need work? Buyers will use any opportunity to justify the price they plan to offer. Outdated cabinets/tile/hardware/lighting and wall colors, threadbare or overgrown landscaping/lawns, mossy and cracked hardscaping, etc., weird smells, all give buyers an excuse to offer less than full price.
- Do sellers want to unload their property or make a killing? In the last month alone, I’ve staged six properties that immediately (first weekend) got multiple offers over list each with no contingencies. Why? Because each buyer didn’t just like each house; he/she HAD to have it because it was bright, current and looked open and spacious.
- The main rooms of any vacant house, regardless of price point, should be staged for three important reasons: One, empty rooms look smaller; two, people have trouble imaging if their own furniture will fit into an empty space; and three, empty spaces never create an emotional connection for buyers. (But not every room needs to be staged in this market, and I’m here to help determine which spaces/areas need staging guidance).
I’ve touched on some of the main reasons why home staging is a must even in a hot market. I’d love to answer any questions you have about home staging! I hope you’ll check out my web site, StagingCraft.com, and call me to talk about how I can help you and your listing clients.